The 361-unit Kernan Oaks Apartments at 3601 S. Kernan Blvd. sold May 17 for $68 million.
Los Angeles-based Kernan Owner LLC of CT Corporation System bought the property from Jacksonville Student Housing LLC of ILM Capital LLC of Leesburg, Virginia.
The community, built in 1996, sits on 33.9 acres. The per-unit price is $188,395.
The current taxable value is almost $37.5 million.
Jacksonville Student Housing paid $21 million for the property in 2013.
The two-, three- and four-bedroom apartments range from 521 to 1,320 square feet. Rents are $649 to $1,799, according to Apartments.com.
Amenities include 24-hour security, manager and maintenance on site, dog park, pool, clubhouse, fitness center, basketball, tennis and volleyball courts, high-speed Wi-Fi and an on-site ATM.
The apartments are 2.4 miles from the University of North Florida. According to its website, it offers co-living apartments and a roommate matching service.